Meme Coin PEPE Surges by 152% This Week, Now the Fifth-Largest Meme Token by Market Cap
By: Jamie Redman
Pepe (PEPE), the meme coin featuring the popular character Pepe the Frog, has experienced a significant surge in value in the past week, rising by 152.9% against the U.S. dollar. Recent statistics indicate that PEPE’s market capitalization has surged from $141 million on April 22 to a current valuation of $303 million.
PEPE Jumps 99% in 24 Hours, Now Fifth-Largest Meme Token by Market Cap
On April 30, 2023, the top meme coin crypto assets by market capitalization are worth $19.11 billion. Over the past 24 hours, the valuation of all meme tokens has risen 1.6%. However, only two out of the top five meme coins by market capitalization have seen gains. The newly launched cryptocurrency, pepe (PEPE), is leading the pack with triple-digit gains. Data collected from coingecko.com shows that over the last seven days, PEPE has risen 152.9%, with most of the gains coming from the last 24 hours as the token jumped 99% higher on Sunday.
Bitcoin.com News reported on PEPE and several other meme coin assets eight days ago. At that time, PEPE was the sixth-largest meme token asset by overall valuation. Today, PEPE is the fifth-largest, and the market capitalization recorded on April 22 of $141 million has risen to more than $303 million. On April 30, PEPE had $149.63 million in global trade volume, hovering just below cardano’s (ADA) daily volume on Sunday. The meme token is down 10% lower than its all-time high recorded on Sunday at $0.000000813847 per unit.
PEPE is also 1,217% higher than the all-time low of $0.000000055142 per unit recorded on April 18, 2023, or roughly two weeks ago. There are 420.69 trillion PEPE coins in circulation today. According to coincarp.com statistics, there are 55,024 PEPE holders today. The top ten wallets hold 20.64% of the entire supply, and the top 100 PEPE holders control 43.82% of the current supply. While PEPE is hosted on centralized exchanges, the coin’s trading activity is mostly on the decentralized exchange (dex) Uniswap (v2).
The market value of the meme coin economy has undergone significant fluctuations in recent months, with dogecoin (DOGE) and shiba inu (SHIB) experiencing ups and downs. Meme coin assets have garnered increasing demand from investors and speculation in the cryptocurrency market since their significant rise in value since 2020. The meme coin economy is well-known for its volatility, but DOGE and SHIB have remained at the forefront of the meme coin market for the last two years. While the market value of these meme coins may fluctuate, their impact on the broader crypto economy has not been ignored.
What do you think about the recent surge of PEPE the meme coin and its impact on the overall meme coin market this week? Share your thoughts and predictions in the comments section below.